Packaging stupidity smartly

When thinking about the valuations of the numerous high flying Nasdaq stocks and the prices which investors are paying for, I can’t help think of this quote from Burton Malkiel.

“Stupidity well packaged can sound like wisdom.”

Keep in mind, my comment is aimed at their valuations not the companies and the businesses themselves. Many of which are fabulous.

Nonetheless, I expect a “white-hot” IPO market over the next 18 months.

October 4, 2020
by Rob Zdravevski
rob@karriasset.com.au